Business, 28.07.2020 20:01, janighad01

Consider the market for meekers in the imaginary economy of Meekertown. In the absence of international trade, the domestic price of a meeker is $23. Suppose that the world price for a meeker is $24. Assume that Meekertown is too small to influence the world price for meekers once they enter meeker the international market. If Meekertown allows free trade, then it will meeker. When a country is too small affect the world price, allowing for free trade will always increase total surplus in that country, regardless of whether it imports or exports as a result of international trade.
a. True
b. False

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Consider the market for meekers in the imaginary economy of Meekertown. In the absence of internatio...